A method of managing a home network key in a home network environment, which has a key management server for managing the home network key and a plurality of home network devices, includes: allowing a home network device to generate device unique information and to transmit the device unique information to the key management server; allowing the key management server to generate a parameter for generating the home network key by using the device unique information and to transmit the parameter to the home network device; and allowing the home network device to generate the home network key by using the parameter. The generated home network key being independent of the device unique information.